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French nuclear giant ORANO slips into the red following Niger-French breakup

French nuclear giant Orano ended the first half of the year with a loss of €133 million, weighed down by difficulties in its mining activities in Niger due to a “highly degraded” political context since a military regime came to power a year ago.

Radio Free Europe: 29/07/2024 –

At the end of June 2024, the group noted “the deteriorated situation affecting mining operations in Niger,” Orano’s chief financial officer, David Claverie, said in a statement.

The coup d’état in Niger on 26 July last year led to a halt in imports of critical materials necessary for uranium exploitation in Orano’s Somaïr mine, such as soda ash, carbonate, nitrates and sulphur.

And although uranium extraction continued in the first quarter of 2024 “after several months of early maintenance,” Somaïr’s sales were unable to resume “due to a lack of logistics solutions approved by the Niger authorities”.

The blockage led the mine into “financial difficulty … weighing on its ability to continue its operations”, the statement read.

In late June, Niger decided to withdraw the licence of Imouraren SA, a company jointly operated by Orano, Niger Mining and Korea Electric Power, and which ran the Somaïr mine.

The situation could eventually lead to “insolvency in the short to medium term, in the coming months”, Claverie said………………………………  https://www.rfi.fr/en/international/20240729-french-nuclear-giant-slips-into-the-red-following-niger-french-breakup

July 29, 2024 - Posted by Christina Macpherson | business and costs, France, Niger, Uranium